Wireless Industry Essay - 754 Words

Over the past decade the wireless telecommunications industry has undergone a multitude of changes and experienced rapid growth. Developments in technology and consumer demand have fueled this growth and research shows that this growth will continue in the years to come. This paper will analyze the basis for these trends in consumption patterns, to include the utility derived from the products, changes in demand, market prices and the elasticity of demand of wireless services. Utility is defined as the â€Å"satisfaction one get from consuming a good or service† (Colander, 2004, p.179). The utility derived from the use of wireless communications devices includes freedom from being tied to one place, the hope of increased productivity, and cost†¦show more content†¦This trend almost guarantees that demand for wireless products and services will continue to grow for many years across many sectors. Today, managers and business leaders may be apprehensive to adopt new wireless technologies over their current wire-bound infrastructures because of quality and security concerns. This new generation of workers has already entered the workplace and as they come into positions of more power and influence they are more likely to deploy wireless solutions, which they have already adopted and become comfortable with. Another growth factor of the wireless industry is the decrease in market prices and the price elasticity of demand for wireless products a nd services. Advances in technology and increased competition explain the decrease in market prices in the wireless industry over the past few years. Growth projections of the industry have created an incentive for more telecommunications carriers to enter the market, resulting in increased competition. This increased competition has made demand for wireless products and services elastic, meaning that the percentage change in quantity would be greater than any percentage change in price (Colander, 2004). This will cause wireless product and service providers to keep prices low and offer other non-monetary incentives to attract potential customers. ButShow MoreRelatedThe Impact Of Wireless Communication Industry On The Industry And Growth Of Wind Mobile, And Canada s Current Economic State2226 Words   |  9 Pagesgrowing in the wireless industry in Canada. The wireless industry in Canada presents a unique opportunity for investment due to the oligopolistic structure and market breakdown. Current ly, there are three major players in the industry and there is extensive room for growth and development as an industry and for Wind Mobile itself to gain significant market share. 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